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Chrome ore spot market roses again in China

Time:Thu, 24 Feb 2022 11:05:59 +0800

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Chrome ore spot market roses again in China. The price of 40-42% South Africa concentrate spot in Tianjin Port reported 36-37 yuan / dmtu, an increase of 0.5 yuan/dmtu, and futures price was 210-215 US dollars / ton. 

 Recently, the turnover of chrome ore market is limited. Due to the imminent ferrochrome bidding of steel mills, the downstream ferrochrome mills maintain a cautious wait-and-see attitude for the spot purchase of chrome ore. But the spot inventory in Tianjin port is limited, the holding traders are willing to support the price obviously, and the ferrochrome mills gradually accept the high price. Under the condition that the port inventory is still low, it is expected that the chrome ore spot market will be increased slightly in the short term.

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